Germany, France agree on industrial policy plan for Europe

France and Germany have agreed on a joint plan for industrial policy in Europe to help companies compete with foreign rivals and protect key technologies from foreign takeovers.

The plan, unveiled by German Economy Minister Peter Altmaier and his French counterpart Bruno Le Maire on Tuesday after talks in Berlin, calls for more investment in innovative technologies and an overhaul of the EU's competition rules. In particularly, France and Germany will boost cooperation in production of electric vehicle batteries, and will give the European Council the right to overrule anti-monopoly decisions of the European Committee in certain cases. The two countries called for adjustments in current company merger regulations to increase the competitiveness of European enterprises.

Source: VOV5